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Calgary’s TELUS Sky tower faces slow leasing market
Calgary’s TELUS Sky tower faces slow leasing market
The TELUS Sky tower in downtown Calgary is the last skyscraper under construction during the city’s most recent building cycle, but it faces a tough challenge to lease office space in an economy that is recovering slowly. The 60-storey, 750,000 square foot project is unique in Calgary. It will have a retail floor, topped by 29 floors of office space and then a further 30 floors of residential rental units in the heart of the city at 7th Avenue S.W. and Centre Street.
Calgary’s University District lands first anchor retail tenant
Save-On-Foods will be an anchor tenant for the retail portion of West Campus Development Trust’s massive Calgary University District development. The announcement of the 38,000 square foot store was made this week, along with the release of new details about the retail portion of the mixed-use project. Further announcements for a hotel tenant and nine other retailers are pending.
Expert panel envisions future of parking
Driverless cars, the sharing economy and online shopping spurred a discussion on parking issues at The Real Estate Strategy & Leasing Conference on Sept. 19. “Tenants are still asking for the things they’ve always asked for,” said moderator Natalie Vukovich, a partner at Daoust Vukovich LLP. “They insist that they (continue to provide) a ridiculous amount of parking…”
Challenges remain in hot downtown Toronto office market
Confidence is high due to historically low vacancy rates in downtown Toronto offices, but how long will the good times last? “This is a great office leasing environment that we’ve all benefitted from, but there are still some significant challenges,” said Mike Scace of Cushman & Wakefield at The Real Estate Strategy & Leasing Conference in Toronto.
‘Awash in capital’, Canada’s CRE sector on record pace: AY
The commercial real estate sector in Canada remains awash in capital and heading toward a possible record-breaking year as a growing number of investors continue to buy assets. According to Avison Young’s Fall 2017 North America and Europe Commercial Real Estate Investment Review, investment is buoyed by a healthy economy and a CRE market with healthy fundamentals.
One year ago: Crown marks 15 years in GTA CRE market
Crown Realty Partners has grown from five employees 15 years ago to 101 today, and managing partner Les Miller says it’s people that have driven the company’s prosperity. “The staff that we’ve hired have all had an entrepreneurial spirit and been customer-focused and had a true appetite to succeed.”
Six months ago: Engel and Völkers goes all-in for VR listings
When Engel and Völkers Real Estate CEO Anthony Hitt had his first experience with 360-degree 3D virtual reality technology, he knew his firm had to have it to showcase its listings. Fast. Hitt, who is based at the company’s North American headquarters in New York, received a Google Cardboard viewer as part of a special project created by the New York Times.
| Property Biz Canada, Thursday, September 21, 2017 |
| Suburban Toronto offices attract ‘new-economy’ tenants Property Biz Canada, September 21, 2017 |
| Homebuyers’ demands clash with urban policy: Fortress report Property Biz Canada, September 21, 2017 |
| JVs, mixed-use developments help developers mitigate risk Property Biz Canada, September 21, 2017 |
| Summit buys another Toronto-area industrial property Property Biz Canada, September 21, 2017 |
| Should the Ontario Municipal Board be overhauled? Property Biz Canada, September 21, 2017 |
| Six months ago: C&W acquires Ashlar Urban Realty Property Biz Canada, September 21, 2017 |
| One year ago: Are REITs getting into riskier developments? Property Biz Canada, September 21, 2017 |
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